New Delhi, Apr 27 (PTI) Mufin Green on Saturday said it plans to raise up to Rs 24.84 crore by issuing non-convertible debentures.

A proposal in this regard has been approved by the board at a meeting on Friday, the company said in a statement.

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The committee of the Board of Directors of the Company has approved "raising of funds through issue of rated, unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees through private placement basis for amount up to Rs 24,84,00,000".

The proposal remains subject to the approval of the applicable regulatory authorities, Mufin Green said.

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As per the company, the proceeds will be utilised for working capital and expansions in the portfolio.

Kolkata-based Mufin Green Finance is a non-banking finance company (NBFC), with a focus on financing clean energy and related projects.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)